Ok, so if we take the action with the greatest value to me as the reference zero, then all other actions count as negative externalities.
An externality is when A’s action results in costs for B who wasn’t a participant. B isn’t acting at all. And it’s usually obvious and uncontroversial what counts as “action” or “inaction” on the part of A.
An externality is when A’s action results in costs for B who wasn’t a participant. B isn’t acting at all. And it’s usually obvious and uncontroversial what counts as “action” or “inaction” on the part of A.
Which bring me back to my previous question:
You can define a reference zero that way. Libertarians generally do not.